Toronto, Ontario--(Newsfile Corp. - May 22, 2026) - Champion Electric Metals Inc. (CSE: LTHM) OTC Pink: CHELF) (FSE: 1QB0) ("Champion Electric" or the "Company") announces that, further to its press release dated May 14, 2026, it has settled an aggregate of $182,826 in outstanding indebtedness owed to certain creditors of the Company, through the issuance of an aggregate of 17,587,584 common shares (each, a "Share") in the capital of the Company at a deemed issuance of $0.01 per Share (the "Debt Settlement"). The Shares are subject to the following contractual vesting and resale restrictions: 25% of the total Shares vest and are released from restriction on September 22, 2026; 25% vest and are released from restriction on January 22, 2027; 25% vest and are released from restriction on May 22, 2027; and 25% vest and are released from restriction on November 22, 2027.